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First Bank Shares - Whats Going On?

Immediately the suspension was lifted, First Bank shares began to appreciate and at a certain point it crashed from 57naira to 41.54.

What happened? Or was that an artificial growth or something? Honestly am worried. Can any guy feel me?

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19 answers

Take all the certificates to a stockbroker.were are u located so I direct u to a good one

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simply go to the stock broker where you purchased them from or the bank and they will direct you on how to go about the process. hope this helps

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Hi nairalanders, please. i have fbn bank shares and i want to sell them asap. can any one tell me the procedures for selling these shares? i wld really appreciate

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Guys (easimoni kindly join in here as well), pls suggest good stocks to invest in at the moment. i looking at both long term and short term. Brief justifications for your suggestions will help a lot. Regards to all.

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I am sorry to deviate a little bit,does anybody know abount International Breweries who is raising about 1.4billion to settle their debt and expantiate their business.Is it a fertile ground to invest?

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@easimoni

men thanks a lot,

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@easimoni,i have noticed u are never tired of answering people's questions. even the most basic ones.

I appreciate you so much.

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The primary market is public offers, initial public offers, rights issues, private placements and the like. the secondary market is the buying and selling on the floor of the exchange.

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@easimoni (and other ppl dat know bout stufflike that)

abeg u sed u dont follow the primary market, could u xplain a bit about the other markets to me

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Let not your heart be in trouble FBN just rounded up their finacial year, decleared 1-6, people are selling.

Downward trend is normal in any stock after the finacial year is decleared with positive result.

For FBN, u have nothing to FEAR, let us wait and see and be patience when on buz.

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Yes i would be surprised if the price did not go down. This is the end of a financial year and beginning of another, bonus and dividend declarations and adjustments have also played their part so its not unexpected. Of course it will rise, but how soon i cannot put a figure on that.

It could take up to 2 years before FBN releases really astronomical results but the wait would have been worth it,

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When is Guniness and oando giving their dividend?

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You are qualified and will recieve bonus and dividend payments for all the units you had prior to the po. so if you had 6000 units before the po and then bought 6000 mo during the po, the dividends and bonus will only be credited to the 6000 shares u had before the po.

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Easimoni

I have some units before the PO and bought some during the PO will i qualify for the dividend and bonus as i was a share holder since last year. last month i bought at 31 and 33 naira. Pls let me know if i will get the divdend and bonus

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Nevada,

the bonus will not be applied to those who bought the the PO. It was stated in the prospectus that PO buyers would not be eligible for 2006-2007 dividends or bonus issues.

I don't know when the certs will be released. I don't follow the primary market because it's too much stress and uncertainty.

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Many thanks EASIMONI for your reply.

Let me ask again, does the bonus share include those who bought from the just concluded public offer?

I just hope the certicates would bo out before january, 2008 if they really have regard for SEC.

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@ poster,

when company issues bonus shares, the NSE adjusts the price to account for the new shares. Therefore since FBN declared 1-for-6. The new price = (6/7) x the old price. Therefore the price at closure date was 48.5, the price after closure was (6/7) X 48.5 = 41.57. Now you have 7 shares worth 41.57 each instead of 6 shares worth 48.5 each. Both cases are worth 291.

No winner, no loser. Don't go looking for bonus. It's a mirage.

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what was your plan when u invested in the Firstbank shares ? long term or short one ? if long term dont worry much , the fundamentals of the bank have not really changed that much , however if u invested to make money on the short term , then i think you have made a mistake .

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